Author Archives: Alberta Gresham

Financing or loan? Which one is the best? – Credit or debit

Whether it is a real estate mortgage, a car loan, or a personal loan, there are differences between financing and loans that should be understood before choosing the best way to get the funds needed for the purpose you want.

Loan and financing: similarities

Loan and financing: similarities

Let’s take a look at the significant differences between the two types of financial assistance you can get to make your payments. There are many similarities, however, that deserve prominence.

Banks and financial institutions, in general, are known to be particularly strict in their lending and borrowing processes, requiring a handful of documents that need to be presented. These documents are usually proof of income, income tax, work permit, payslip, CNPJ of your company (if it is a loan or financing for Legal Entity), and valid identification documents.

You must have a solid job, with a sufficient income to guarantee the payment of the installments of the financing, besides that the employment is stable, or that your company has reported profit for the last months. Both loans and financing depend on the assessment of the bank or financial institution, including the loan or financing limits that you are entitled to. This evaluation ensures that whoever gets the loan or financing is able to pay the installments, and exponentially reduces the risk of default by the borrower.

Loans and financing are different, but both can be good options for those who need to make payments with resources that are out of sight at the time. (Photo: blog.mobills.com.br)

Loan and financing: differences in approval

Loan and financing: differences in approval

An initial difference is in the ease of loan approval or financing.

Approving a loan is much easier than approving a loan. The loan almost always does not have a specific purpose, that is, the person can use the loan for any purpose, from paying bills and debts to making purchases of products, services, and other things more. Generally, when making an account at a bank, you will have a pre approved loan limit to use. Although there is this limit also for financing, the financing limit will need a new analysis when you use it.

In funding, on the other hand, approval is more difficult, and it must, necessarily, be used for the purpose for which it was approved. For example, you can not use a car financing to pay for a home, just as you can not use a business machinery financing to buy a particular car. For financing, more documents are required at the time of approval or use of the same, ensuring that the borrower will be able to pay the installments.

Loan or financing: which is the best?

Loan or financing: which is the best?

Bank loans, because they are easier to obtain, have a higher cost for the borrower’s pocket. On the other hand, they give greater freedom to those who take the money to use as they wish.

Since financing, such as automobiles and real estate, interest rates are lower not only because of the more rigorous approval of financing, but also because financing has access to guaranteed funds that are more “cheap” for the bank to lend. However, the financing has a specific purpose, a guaranteed purpose, and can not be used for other purposes. In other words, the borrower will be limited in the fate that will give the money. In addition, certain financing, such as the automobile, has some limitations for approval, as the requirement of the vehicle not having more than 10 years of manufacturing. In the case of real estate, it may be required that it has never been occupied before, in order to obtain cheaper financing.

Another difference is the time taken to pay off loans and the time taken to pay the loan. While a loan has short repayment terms, usually no more than two years, a vehicle financing can go from 60 months of repayment term. A real estate financing can take up to more than 30 years to get paid. The longer the term, the tendency is for the parcels to be smaller and easier to pay.

Loans also give access to a much lower amount than financing. So consider this carefully when you decide.

Considering the right choice of financing

Considering the right choice of financing

The process of obtaining a loan or financing should take into account your specific demand. For example, you may want to finance an older car, but there is no line of credit available for that car. Your only option will be the loan. But if you have how to choose between financing and the loan, financing is the best option.

Have you taken out a loan or a loan? How was it? Could you choose or were you limited?

Do you need to quickly borrow money? Consider Product Fast Loan

Everybody can get into an awkward financial situation, where a certain amount of money is needed, without exception. Then it is appropriate to turn to a reputable company that pulls the thorn from your heel without risking a debt trap. They are just to choose.

The banking market is currently rich. Financial companies are overtaken by offering various financial products. From the TV, happy young people sing to us for “tempting loans for a few days” and teach us how to love our bank. There is nothing wrong with that. There’s no reason to hate your bank, why else would we be her clients, right?

There is caution on the spot

There is caution on the spot

Certain caution in the choice of financial products, however, is definitely in place. A loan to a financier is nothing more than a product that needs to be sold. Just like when a cosmetic company is launching a new perfume. He will also embellish it a little and bring his scent to the heavens. While choosing a perfume we can only follow its fragrance, which is either pleasant to us or not, the loan is not so straightforward.

When we buy money

When we buy money

The loan is nothing more than buying money. And just like any other consideration, or at least most of the investment, we should do so with a loan. Unlike one-off investments, we can repay it for several years. In addition, we commit ourselves contractually.

Beware of the contracts!

Beware of the contracts!

Contract, that’s what’s going on here. It can be a buried dog. Therefore, always read it carefully. Never, never sign anything that you have not read and what you have not understood. As a result, it can go (and often goes) with words! If you do not understand any of the passages or passages, review the agreement with the expert.

Beware of APR and contractual penalties

Beware of APR and contractual penalties

There should be two things to your interest: APR (annual percentage rate of charge), which is an indication that will tell you how much you will overpay in the result and the amount of contractual penalties for the late payment. Here, in particular, some institutions tend to be high.

A quick loan for unexpected expenses

A quick loan for unexpected expenses

Fortunately, you do not have to worry about these scarecrows with the fast loan product, which is in the portfolio of the renowned Soade Credit company. This loan is for specific needs. You have a sudden expense ahead of you, which you have to pay in return. You expect a payout or other income and you know that you will repay the loan within a month. In this case, this product is right for you.

A really fast loan

A really fast loan

There are several benefits of a quick loan. First of all, as its name suggests, it is really fast. It takes no more than a few minutes to process. You can still have money on your account the same day you apply for it. And not only that. The loan can be closed online – no need to stay on the branch at all!

Quick approval

Quick approval

But even faster is the approval of a loan that is in charge of a computer. He simply evaluates the entered data and literally gives you his opinion after a few seconds. You will then receive a text message with the authorization code that you enter into the system, and from that point on, the money will be on the way.

Debt settlement- Start your payday loan debt settlement application today

When dealing with your debts, it is very important to weigh the pros and cons of different debt relief options that are available to you. Here are some questions to ask you in order to help you clarify the situation:

  • Am I willing to damage my credit rating in order to end the debts?
  • How long am I willing to follow a debt settlement program until my debts are settled?
  • How much am I willing to spend on such a program?

If you are considering a debt settlement because you are tired of being harassed by debt collection agencies or simply because you can not afford to repay your debt in full, you must first know if you qualify or not.

Start your payday loan debt settlement application today

Understanding debt settlement

In Canada, there are many options for debt relief. In parallel with the debt settlement, there is the financial follow-up, the debt consolidation, and the consumer proposal, just to name a few. Debt settlement is an option for people in a very particular financial situation.

In other words, debt settlement programs via Push the button are designed for those whose debt is so severe that they no longer qualify for debt consolidation or financial tracking. On the other hand, your debt is not serious enough to be the subject of a consumer proposal or to declare bankruptcy. In general, debt settlement is better suited for those with less than $ 10,000 unsecured in consumer debts.

Other issues and qualifications for debt settlement

Although there is an approximate amount of debt that makes you eligible for a debt settlement, your total debt level does not dictate exclusively whether it is the right option for you or not. Here are some other relevant factors:

Returned

Obviously, your income is very important because it allows you to make payments on your existing debt. In general, if you are not able to make at least the minimum payments on your debt, at this point you should declare bankruptcy. Fortunately, these laws are not cast in the concrete and each situation is different. Even if you still can not make your debt payments, you could still qualify for a debt settlement program.

Savings

Savings

The amount of your savings or the active capital of your assets can work in your favor for a debt settlement. Know that most creditors ideally prefer a debt settled by lump sum payment, if possible. For example, if you have a few thousand dollars in an unrestricted account (such as a retirement savings account), debt settlement could be a very good option for you.

creditors

creditors

The outcome of your debt settlement may differ depending on the creditors you work with and the history you have with them. The chances are that if you have dealt with a specific creditor in the past, the negotiations will be more favorable.

Qualify or not

That being said, there is only one way to know if you will qualify for debt settlement or not: just contact a professional for a free consultation. From there, you will complete the debt relief form and you will be able to know which option is the best for you.

What is good to know about personal and business loans

Whether you are an entrepreneur or an ordinary citizen, you can get into a situation where you need to borrow. Entrepreneurs often seek to borrow if they are just starting their business, ordinary citizens are looking for loans at a time when they find themselves in a difficult financial situation. Whatever the case, whether you are a business person or a citizen in need of money, apply for a non-bank loan from Profit Loan.

Profit Loan has been on the market for more than twenty-two years. At present, the company is considered one of the largest lending companies in the Czech Republic. It maintains its position in the market not only thanks to advantageous personal loans or loans for entrepreneurs, but also is known for its low installments, above-standard service and quick approval of the loan.

Thanks to the quick approval of the loan and the subsequent quick sending of the money to the account, it is so popular and so popular.

What you need to know about personal loans

What you need to know about personal loans

Let us now focus on the non-bank personal loans the company offers. What do you need to know about them? In particular, it is important to know that the money is credited to the account within 24 hours of acceptance of the loan application, ie no later than the next day. It’s especially great compared to banks that take money to send even long weeks. It is not in vain that loans to Profit Loan are also called loans.

What anyone who appreciates a loan will appreciate is that Profit Loan offers the option of postponing fast loan repayments.

What you need to know about business loans

What you need to know about business loans

As far as business loans are concerned, you will not be waiting for the required money long. Again, after the loan is approved, it is possible to send up to 250,000 crowns within twenty-four hours, ie you will receive it by the next day. Business loans are intended for all entrepreneurs who do business for at least six months.

Business Loans in the Current Account Ranking

We scan overdraft loans for micro and small companies. The best bank loans in the current account are provided by Crediter, Lorota Bank and CreditCole.

We asked the banks how they would grant a current account loan to a company that has annual turnover above PLN 1 million and has been operating on the market for over two years. We took a look at the four cost parameters associated with granting the loan: the bank’s margin, commissions for granting and renewing the loan, and a commission for readiness. We assumed that the company is developing dynamically and meets all the requirements of a given bank. According to our parameters, the best loan is currently offered by Bank Crediter, which received 13.88 points out of 16 possible. In second place is Lorota Bank with 13.2 points, and the third – CreditCole, which scored 12.8 points.

company loans in the current account

Where’s the cheapest?

Bank Crediter offers a loan in an account called Spresks Line, the bank’s margin starts from 1.99 percentage points, the bank does not charge a loan, but 2.4 percent. annually is the commission for readiness, i.e. on unused credit. The commission for renewing the credit line is 1.49 percent. the amount credited. In a bank, a company can apply for up to 500,000. loan amount. Lorota Bank does not charge a fee for readiness, the commission for both granting the loan and its renewal starts from 0.25 percent, and the bank’s margin from 4.5 percent.

CreditCole also has no fee for unused credit, the commission for its granting amounts to 1.5%, and for its renewal from 1.25, the bank’s margin starts from 4 percentage points. In a bank, a company can get a loan of up to 400,000.

Check costs

The interest rate on the overdraft facility is based on the NetBor (usually 1- or 3-month) rate and the negotiated margin. The average margin charged by banks is 4 percentage points. The margin in Idea Bank is 0 percentage points, but the bank charges 7.99 percent. commission for granting the loan and its renewal. Three of the banks included in the list do not charge any fees for granting loans: Crediter, Bank Peskor and s-bank. Most banks, however, charge a commission of 1.5%. amount of debt. Another cost related to the use of the credit line is the commission for renewing the loan. In many banks, it is the same as the fee for granting loans. In some banks it is much lower than the commission for granting the loan, for example in Bank Millennial or CreditCole. And in some of the opposite – the company will pay more for renewing the loan than its launch. This is the case, for example, in all banks that do not charge a fee for granting a loan: Crediter, Bank Peskor SA or s-bank. An additional charge for the credit on the current account is the payment for readiness, i.e. commissions for the unused loan amount. Its cost is about 0.2 percent. on a monthly basis. This fee does not charge 6 out of 17 listed banks.

Important creditworthiness

The overdraft facility is granted for 12 months with the possibility of a prolongation for the next 12 months, provided that the company shows creditworthiness at a similar level as in the year of signing the contract, and the loan service was correct. The bank may terminate the contract with a company that has violated the bank’s regulations, and also if it has been entered into the database debtors list. If the contract is not signed for the next period, the company must repay the entire debt on the day the contract expires. Depending on the financial situation, the company may apply for a reduction or increase in the loan amount. Banks charge an additional fee related to the change of terms of the contract.

In most banks, a company transferring an account from one bank to another can basically get a loan on hand based on the account history of the transferred bank. Only at Lorota Bank will the loan be granted after 6 months from the transfer of the account.

The amount of credit depends on the company’s creditworthiness, but some banks set the upper limit for such loans. In s-bank and Crediter, it is PLN 500,000 PLN 400 thousand in CreditCole, and in Santander Consumer 300 thousand.. At Bank Peskor SA, the loan amount may not exceed 20%. the sum of sales revenues for the last financial year, and the BPS Bank is 25 percent. annual company revenues. In SGB Bank, this amount can not be more than twice the average monthly income on current accounts for the last 12 months and 20 per cent. revenues for the last full year (conditions must be met simultaneously).

company loans in the current account

The loan is most often granted for 12 months, with the possibility of multiple renewals. Fig. Adobe Stock

The final form of the loan agreement with the bank is an individual matter of the entrepreneur and the bank. It is worth negotiating both interest rates and commissions in banks.

A revolving loan in a current account can be used for any purpose, but the bank offers other loans. Banks offer entrepreneurs various forms of financing depending on their needs. To finance investments in banks, you can apply for an investment loan, a working capital loan is used to finance the current operations of the enterprise, and payment credits are a short-term loan granted to the company in order to maintain financial liquidity.

Technological credit is granted for the development of production technology. If the company implements a project for which subsidies have been granted, it can apply for loans in the bank until the reimbursement is obtained. Banks offer various preferential loans with subsidies, the entrepreneur may also apply for a mortgage. Most credit parameters are a matter of agreement between a bank and an entrepreneur.

How our ranking is made

Banks could get a maximum of 16 points. The points were granted linearly, ie the bank with the lowest interest rate received the highest number of points (in this case 17 points), but if the banks had the same parameters, they received the same number of points, and the next bank by 1 point less. Then each weight was given weight. In the ranking we have included:

– bank’s margins – maximum 5 points

– commissions for granting a loan – maximum 5 points

– commissions for readiness – maximum 3 points

– commissions for renewing the loan – maximum 3 points

If the banks did not provide the given parameter or the answer was supplemented by the “contract”, we took median (the center value) resulting from the given parameter for calculations for the purposes of the ranking.

Expert opinion

Joanna Brzostek senior, manager in the business financing team at Bank Crediter

Microenterprises play an extremely important role in the economy. These types of companies make up the vast majority of all enterprises. Their efficient functioning on the market and the development of the company requires appropriate financing methods. They use their own funds and financing from external sources, for example from banks, to run their own business. Considering the size of such a company or the susceptibility to change, a large part of them is not able to find the necessary resources for proper functioning and development.

The way to solve these problems is to obtain external sources of financing. Undoubtedly, the most common source of financing for companies is taking out a bank loan. Deciding to finance in this form, one must take into account the need to meet various requirements set by banks that are testing the creditworthiness of the client. Such companies more and more often can count on an individual approach and receive offers tailored to their needs. However, before we decide on a specific loan, it is important to carefully analyze the company’s flows and to examine the demand for cash. If we take into account the purpose of the loan, we can talk about:

– revolving loans related to the financing of the borrower’s current business operations, such as a bank overdraft, non-revolving cash;

– investment loans for specific investment projects.

Banks, offering loans, not only try to propose an optimal loan period and amount for the company, but more and more often offer promotional, favorable price conditions to a wider group of customers that will help optimize the company’s operating costs.

Such an approach from the banks certainly facilitates the process of receiving financing and at the same time creates micro-enterprises conditions ensuring continuation of their operations and its development.

Advantage and inconvenience of real estate credit

Unmarried couples and pacsĂ©s know it, indivision in the acquisition of a property is not what is necessarily the most desirable. With statutes validated by the public finance center of the head office on which your Civil Real Estate Company depends and since 2014 by sending documents and statutes to the Registry of the Commercial Court, you can make financial arrangements to buy several without justify a relationship. This system  is an advantageous solution to avoid blockages that may arise from indivision , ensures a transfer of shares with a tax benefit and can also be a great protection against personal creditors as we will see in this article.

  1. Advantages and disadvantages of a real estate loan
  2. XYZ current account to finance the repayment
  3. Transmission of property is a succession benefit

The matrimonial regime and the loan do not have any more relation as well as the principles of the common indivision. It is the XYZ that borrows and it is therefore she who bears the debt first. The natural persons who constitute it stand surety for this debt and the bank will therefore be interested in the indebtedness of each natural person to grant or not the loan.

As a manager of an XYZ and to ensure the success of the operation, you are strongly advised not to bring the XYZ into deficit because the bank does not like this type of situation. This is why, during the financial package, we first of all observe to what extent the rent (s) covers (s) the monthly repayments of the credit contracted.

If your XYZ is subject to the IR (Income Tax), the partners will be able to fill the gap. If the XYZ is subject to the IS (Corporate Tax), a bank will want more balance of accounts and may require a written commitment by the partners for reimbursement.

WCR (working capital requirement) including potential delays in the payment of rent. An XYZ remains a full-fledged company requiring cash requirements for its operation and generating a turnover related to rents that may vary (although elements of economic stability enter the balance of decision, especially for the banker ).

Be careful, even in XYZ a bank can always refuse a credit and is not obliged to warn a borrower of the risks he incurs.

Pay attention to the revisable rates for bank financing real estate . If the variable capital of an XYZ can be interesting to bring new partners, it is not necessarily interesting (especially in 2018) to contract a variable rate loan.

It is then that the partners are insured. As such, and as for any bank loan, there is a borrower insurance and the bank can therefore cover them differently depending on income earned.

The main thing is to ensure a 100% loan, the negotiation of the borrower insurance is always possible in other cases!

The advantage of the transfer of ownership and debts in XYZ

For the rest, this advantage is well known in the field of property transmission that constitutes the XYZ. Ultimately, a real estate company offers a real asset advantage because it can be given partly in the form of a donation of shares in a more flexible way than a classic property that will be in joint ownership.

This procedure over time makes it possible to benefit from the allowances available in French law for donations made during the lifetime of the donor, a clever way of avoiding or reducing the inherently expensive inheritance tax.

It is the shares of XYZ that are transmitted and not the real estate. The same is true of debts.

Get help from a professional in this case, even if you theoretically do not need a notary, the valuation of shares will be more reliable through him, especially to avoid tax disguised donations .

Low Taeg Loans 3 Tips for Getting Online Financing!

Low taeg loans

Low Taeg Loans: Save now, it’s easy!

New options for Low Taeg Loans now available ! That’s right! Thanks to Financemm, your projects will be more profitable thanks to loans in Taeg low.

It presents an important opportunity to exploit if you are looking for liquidity for your projects (moving house, new car, first house). Contact us to access a Low Taeg Loan.

Are you interested in a free consultation without obligation? Fill in the contact form that you find on our site and within a few moments you will be contacted by one of our experts. Our consultants, upon receipt of your request, will contact you to offer you a financing quote with Taeg that is more convenient.

In case you like the proposed solution, then you will agree an appointment, also wanting to your home. The network of our collaborators is present throughout the national territory; so that you live in Milan, Naples, Salerno, Verona, Vicenza, Bologna, Palermo, Rome or Messina, contact us!

Do you have a doubt? Write us a comment. You can do it for free using the space at the bottom of this page. We will soon answer your question.

Now let’s see some in-depth analysis related to this topic.

What is Taeg and what does it include?

What is Taeg and what does it include?

Here is the explanation of what is the Taeg. This is the global annual percentage rate also known as ISC (synthetic cost index). Expresses as a percentage all costs related to a loan, loan or loan.

The taeg includes everything that constitutes the calculation of the interest applied to a loan then the tan (cost of money), the costs of preliminary investigation, the stamps, any commissions applied to the distribution network, insurance costs (if a policy is provided), installment costs.

Once you know this, you can determine the convenience of a loan. It is important to highlight that every quarter Banca Italia publishes the new thresholds on the maximum applicable interest rates. Every loan, loan or mortgage contract must not exceed these thresholds, otherwise the contract will be null and void.

Low Taeg Loans Why choose Financemm?

Low Taeg Loans Why choose Financemm?

You will have asked yourself why choose us? The answer lies in 15 years of experience in the field of credit mediation! Experience that has allowed us to meet the needs of our customers, with different loan solutions, throughout the national territory.

If you ask us for a quote, you can save money twice: you could access one of the lowest loans with a lower taeg.

That’s right! For the first 100 customers who send us the contact request, we have the best loan taeg available ! This is a limited offer!

Lower taeg financing How to do?

Lower taeg financing How to do?

To save money by getting a Low Taeg Loan you only need a few clicks from the comfort of your home!

Exactly. Click on the quotation and the page will open to formalize the request: enter your data (will be treated in the maximum respect of the law on privacy) that will serve to propose the loan solution that best suits your characteristics.

Within a few minutes of sending the request one of our experts will contact you by phone and will point out in a completely free way the directions with which you can benefit from this advantageous financing.

Important Notice! The request is totally free and without obligation: it will not involve any expense but above all makes you free from any commitment. Credit data will not be reported to banks as Crif.

Low rate loans, who can request them?

Do you have the appropriate features that allow you to apply for the loan? Let’s see it now!

In addition to the value of the installment, the total cost of the entire loan (including the necessary expenses) must also be assessed to find your Taeg Low Loans. Only considering the Taeg is it possible to understand the convenience of our Low Taeg Loan.

It is important to verify that the rate proposed by the lending institution is not only a rate provided only for the first installments but is a valid Taeg for the duration of the loan. This is called a full rate.

The Loans solution in Taeg Basso includes the sum of the initial rate together with the necessary expenses. Check all this by asking us for a free quote without obligation.

Not only! The rate proposed by Financemm is placed at the best conditions on the market and you can choose the loan installment to be repaid and its duration.

Other advantages! By choosing Financemm you will have guaranteed insurance cover in case of death or loss of employment in an involuntary manner.

If you want to pay off the Taeg Low Loans you can also do it in a period of 24, 36, 48, 60, 72, 84, 96, 108 and finally 120 months. The installment already includes all expenses and in any case can never exceed one fifth of your salary, can only be minor.

With regard to the provision of low rate loans can be made by bank transfer or, if not in possession, by check. All this is allowed by the transfer of the fifth, which also allows you to renegotiate the loan early, thus recovering all the interests that have not been accrued. The assignment of the fifth can be requested by employees with permanent contracts and pensioners.

For more information on the sale of the fifth lowest taeg on the market proposed by Financemm visit the page dedicated to the sale of the fifth.

How to calculate the taeg?

The Taeg calculation system is based on a very precise formula. If you are wondering how to calculate the loan taeg, here you will find the possibility to download, for free, an excel file. By entering the data in the file, the computer will automatically give you an example by which you can check the annual percentage rate applied to your financing.